How to Pay for a New Furnace this Winter
With cold weather right around the corner, it may be time to consider a new furnace for your home. You may be wondering what is the cost, and how do I pay for it. A new furnace price may be anywhere from $2,000 to as much as $6,000 depending on the size, efficiency level, and features of the furnace. If you find it is time for a replacement don't panic we have many options for financing as well as incentives from your local utility company and rebates from the manufacturer.
What signs would indicate my furnace needs replaced.
- I have been having to make expensive repairs.
- My furnace doesn’t seem to be doing the job anymore.
- My Carbon Monoxide (CO) detector is going off for some reason.
- My furnace is more than 12 years old.
Don’t let the sticker shock scare you or make you postpone the decision. Waiting to replace a furnace after it fails, can lead to higher costs due to emergency or after-hour up charges. Also, if your furnace needs replaced there may be a delay in getting a new one installed because of high demand. Some of the Utility company incentives are not available unless the furnace is working.
Here are some tips on how to pay for it and reduce the cost:
Check for Heating Incentives
Your local utility provider, such as Ameren Illinois, Ameren Missouri, or Spire Gas Co may have incentives to help you with the replacement of your old equipment. Ameren Illinois has incentives as high as $1,300. Ameren Missouri incentives are as high as $900. Spire incentives are up to $300 for a new gas furnace.
Ameren Illinois has both income based and standard incentives:
Ameren Illinois Home Efficiency Income Qualified Program – This program is designed to help low to middle income families replace outdated equipment with new, energy efficient units.This program has large incentives to assist in making your home and your HVAC equipment energy efficient. You can click here to apply.
After you apply, we will come to your home for a preliminary assessment to see if your home qualifies under the guidelines of the program. If it does, the next step will include a full energy audit of your home. This will be done by one of our certified Building Performance Institute auditors. This audit will determine the current efficiency levels of the heating and cooling equipment and we will find the areas of the home where additional insulation and air sealing can be performed. Energy Stars Heating & Cooling Co is a leading Core Ally in the area and will complete the work, including replacing your old units and installing new insulation.
Ameren Standard Incentives - This program provides incentives for heating and cooling equipment including:
- Central Air Conditioning
- Air-Source Heat Pump
- Gas Furnace Blower Motor
- Smart Thermostats
Please contact us if you would like more information on Ameren rebates.
Furnace Financing & Factory Rebates
Financing – We provide flexible financing solutions with interest rates starting as low as 4.99%. If you’re interested in applying for financing, we can let you know your approval status as soon as 24 hours. We offer terms as long as 144 months to get a lower payment per month. Both Ameren-IL and Spire are now offering financing on your monthly utility bill with no money down, so you can pay for the new equipment right on your utility bill. Many people like this easy and convenient option. Look at finance web page to see all the options that we offer.
Bad or low Credit Options – We also offer leasing options, it’s similar to a lease-to-own program by offering hassle-free monthly payments based on minimal financial requirements. This lease program gives you the ability to have a new system and not have to pay for it in full up front. There are a few requirements for this program and we would be happy to talk with you about it. To apply for a lease, you can click here to get started.
Factory Rebates - Rebates are based on the specific system you choose. As a proud YORK® Certified Comfort Expert, we can make sure you will receive all right rebates to help alleviate the cost of a new system. These rebates varies by manufacturer and is subject to change, so be sure to ask your contractor about any on going manufacturer rebates that are going.
Factory Rebates – Rebates are based on the specific system you choose. As a proud YORK® Certified Comfort Expert, we can make sure you receive all of the rebates to help reduce the cost of a new system. These rebates vary by models and are subject to change, so be sure to ask your consultant about any on going manufacturer rebates.
No matter your situation, Energy Stars Heating & Cooling Co wants to help you stay warm this winter. If you’re worried about your furnace failing or how to pay for a new furnace, call us at 618-477-8337 or leave us a message here. We offer free consultations to price out a new system and we also offer low cost service repairs if needed.